I B C Archives - Page 5 of 8 - Supreme Court of India Judgements

May 10, 2025 12:19 am

IBC – when admission is opposed on the ground of existence of an award or a decree in favour of the Corporate Debtor, and the Awarded/decretal amount exceeds the amount of the debt, the Adjudicating Authority would have to exercise its discretion under Section 7(5)(a) of the IBC to keep the admission of the application of the Financial Creditor in abeyance

Jul 14, 2022 sclaw

SUPREME COURT OF INDIA DIVISON BENCH VIDARBHA INDUSTRIES POWER LIMITED — Appellant Vs. AXIS BANK LIMITED — Respondent ( Before : Indira Banerjee and J.K. Maheshwari, JJ. ) Civil Appeal…

I B C

CIRP – Recovery Certificate Holder – Limitation period – the holder of such certificate would be entitled to initiate Corporate Insolvency Resolution Process (CIRP), if initiated within a period of three years from the date of issuance of the Recovery Certificate.

Jun 19, 2022 sclaw

SUPREME COURT OF INDIA FULL BENCH KOTAK MAHINDRA BANK LIMITED — Appellant Vs. A. BALAKRISHNAN AND ANOTHER — Respondent ( Before : L. Nageswara Rao, B.R. Gavai and A.S. Bopanna,…

I B C

IBC, 2016 – HELD in the interest of all the stakeholders to permit settlement and withdraw CIRP, the adjudicating authority or the appellate authority cannot sit in an appeal over the commercial wisdom of CoC

Jun 19, 2022 sclaw

SUPREME COURT OF INDIA DIVISON BENCH VALLAL RCK — Appellant Vs. M/S SIVA INDUSTRIES AND HOLDINGS LIMITED AND OTHERS — Respondent ( Before : B.R. Gavai and Hima Kohli, JJ.…

I B C

Recovery Certificate – would be a “financial debt” – the holder of such certificate would be entitled to initiate Corporate Insolvency Resolution Process (CIRP), if initiated within a period of three years from the date of issuance of the Recovery Certificate.

Jun 4, 2022 sclaw

SUPREME COURT OF INDIA FULL BENCH KOTAK MAHINDRA BANK LIMITED — Appellant Vs. A. BALAKRISHNAN AND ANOTHER — Respondent ( Before : L. Nageswara Rao, B.R. Gavai and A.S. Bopanna,…

I B C

Bank could not have continued the proceedings under the SARFAESI Act once the Corporate Insolvency Resolution (CIRP) was initiated and the moratorium was ordered.

May 28, 2022 sclaw

SUPREME COURT OF INDIA DIVISON BENCH INDIAN OVERSEAS BANK — Appellant Vs. M/S RCM INFRASTRUCTURE LTD. AND ANOTHER — Respondent ( Before : L. Nageswara Rao and B.R. Gavai, JJ.…

I B C

NOIDA is not a financial creditor, it would constitute an operational creditor. Appeal dismissed

May 28, 2022 sclaw

SUPREME COURT OF INDIA DIVISON BENCH NEW OKHLA INDUSTRIAL DEVELOPMENT AUTHORITY — Appellant Vs. ANAND SONBHADRA — Respondent ( Before : K.M. Joseph And Hrishikesh Roy, JJ. ) Civil Appeal…

I B C

Insolvency and Bankruptcy Code, 2016 – Sections 7 and 12A – Real estate project – the Promoter has filed a specific undertaking specifying therein that the cost of the flat would not be escalated and that he would honour the BBA signed by the previous management – Promoter is permitted to complete the project as per the deliberations.

May 1, 2022 sclaw

SUPREME COURT OF INDIA DIVISION BENCH ANAND MURTI — Appellant Vs. SONI INFRATECH PRIVATE LIMITED AND ANOTHER — Respondent ( Before : L. Nageswara Rao and B.R. Gavai, JJ. )…

I B C

Insolvency and Bankruptcy Code, 2016 – Section 53(1)(a) and 5(13) – Insolvency resolution process costs – Dues towards the wages/salaries of only those workmen/employees who actually worked during the Corporate Insolvency Resolution Process (CIRP) are to be included in the CIRP costs

Apr 23, 2022 sclaw

SUPREME COURT OF INDIA DIVISION BENCH SUNIL KUMAR JAIN AND OTHERS — Appellant Vs. SUNDARESH BHATT AND OTHERS — Respondent ( Before : M.R. Shah and Aniruddha Bose, JJ. )…

I B C

IBC, 2016 – Applicability of Section 18 of the Limitation Act, 1963 – While applying Section 18 of the Limitation Act, even went to the extent of holding that an entry in the balance sheet of the company could also be treated as an acknowledgment in writing, subject however to any caveat found in the accompanying reports – Appeal allowed.

Apr 10, 2022 sclaw

SUPREME COURT OF INDIA DIVISION BENCH SVG FASHIONS PRIVATE LIMTED (EARLIER KNOWN AS SVG FASHIONS LIMTED — Appellant Vs. RITU MURLI MANOHAR GOYAL AND ANOTHER — Respondent ( Before :…

I B C

Insolvency and Bankruptcy Code, 2016 – Section 9- held that a notice on behalf of the operational creditor by a lawyer would be in order.

Apr 2, 2022 sclaw

SUPREME COURT OF INDIA DIVISION BENCH JORD ENGINEERS INDIA LIMITED THROUGH ITS SIGNATORY — Appellant Vs. VALIA AND CO. (D) THR. LRS. — Respondent ( Before : Dinesh Maheshwari and…

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Service

Under Rule 17, CCS (Pension) Rules, 1972, prior contractual service counts towards pension upon subsequent regularisation, subject to the employee opting to refund/forgo specified monetary benefits.

May 6, 2025 sclaw

I B C

Service of an IBC Section 8 demand notice upon Key Managerial Personnel at the Corporate Debtor’s registered office constitutes valid service on the company, emphasizing substance over technical form.

May 6, 2025 sclaw

Cr P C

High Court’s inherent power to quash criminal proceedings precludes conducting a ‘mini trial’ by assessing evidence credibility; consistency requires acknowledging coordinate bench decisions involving co-accused.

May 5, 2025 sclaw

Cr P C

Quashing FIR under 482 CrPC impermissible when complaint prima facie discloses cognizable offences; allegations accepted true, investigation not thwarted based on delay, civil suit, or witness status if complicity alleged.

May 5, 2025 sclaw

Category: I B C

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